The Bitcoin Cash/Bitcoin pair opened at a 0.003 today on American exchange Bittrex. But just an hour after the launch, Bitcoin Cash climbed to a daily high of 0.14789 against Bitcoin. While on HitBTC, Bitcoin Cash (BCH) is currently trading as high as $360.

Social media and Reddit forums were rife with speculation that the value of Bitcoin Cash would crash to $0 at launch, as existing Bitcoin holders would dump their BCH holdings. But those theories were proven wrong today as investors on Bittrex and Kraken snapped up the cheaper BCH coins.

Although there are great discrepancies at this time between BCH exchange rates on different trading venues due to thin liquidity, Bittrex's BCC/BTC trading pair has the most volume so far today, beating Kraken's BCH/BTC pair by about $2 million.

At press time, the Bittrex BCC/BTC pair has seen 2997 BTC ($8.26 million) in Bitcoin Cash trades in the first 2.4 hours.

Since the Bitcoin Cash exchange rate on Bittrex is currently hovering at 0.1087, the most accurate price for Bitcoin Cash in dollars would be approximately $298.925.